FHA Loans in the State of Maine

If you own a mobile home on a permanent foundation in the State of Maine you may be eligible for FHA Financing. You must own the land as well and the mobile home must been constructed after June 15, 1976. FHA financing allows for singlewide, doublewide, and triplewide financing.

FHA allows for financing just 2 years after the discharge of a Chapter 7 Bankruptcy, provided you have re-established good credit. You may refinance out of a Current Chapter 13 Bankruptcy payment plan provided you have the trustee's permission, a timely mortgage history, and a timely payment history on your bankruptcy. You must have had the payment plan for at least 1 year.

With recent changes in the subprime industry, getting the financing you need may be through an FHA loan. Low credit scores will not immediately disqualify you from FHA financing, although a good 12 month mortgage history is needed.

FHA offers a program where you can finance home repairs and improvements on a purchase transaction. This loan is known as an FHA 203k or Streamlined K. Consult your mortgage professional for more infoprmation.

» DISCLAIMER: The information contained in this article on 'FHA Loans in the State of Maine' is a collection of contributions by licensed mortgage professionals and is not the opinion of Broker Outpost LLC. Always consult a licensed professional before applying for a mortgage.